Dine Brands Global Inc (DIN)

Quick ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Cash	US$ in thousands	146,034	98,197	98,000	181,606	269,700	355,288	263,500	294,738	361,412	304,200	259,461	179,567	383,369	309,278	278,507	344,560	116,000	100,518	127,555	132,932
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	31	—	—	—	43	—	—	—
Receivables	US$ in thousands	127,937	85,742	90,596	93,119	120,000	89,529	91,888	94,009	119,968	92,100	99,300	107,400	121,897	122,100	124,600	80,415	136,869	91,426	98,786	97,786
Total current liabilities	US$ in thousands	460,452	384,337	400,182	405,172	470,722	519,106	343,798	334,770	410,730	344,982	344,855	335,096	348,568	321,111	300,706	290,578	357,912	290,734	296,401	303,090
Quick ratio		0.60	0.48	0.47	0.68	0.83	0.86	1.03	1.16	1.17	1.15	1.04	0.86	1.45	1.34	1.34	1.46	0.71	0.66	0.76	0.76

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($146,034K + $—K + $127,937K) ÷ $460,452K
= 0.60

The quick ratio of Dine Brands Global Inc has exhibited a declining trend over the past eight quarters. The ratio decreased from 1.28 in Q1 2022 to 0.70 in Q4 2023. This suggests that the company's ability to meet its short-term obligations using its most liquid assets has been weakening. However, it is worth noting that the quick ratio was highest in Q1 2023 at 0.77, indicating a slight improvement from the prior quarter. Overall, the decreasing trend in the quick ratio may raise concerns about the company's short-term liquidity position and its ability to cover immediate liabilities with its current assets. Further analysis and scrutiny of the company's liquidity management strategies may be warranted to address this trend.